Indonesian social enterprise Du’Anyam on Thursday said that it has secured an investment from Northstar Foundation, the impact investment vehicle of Northstar Group.
Du’Anyam produces and distributes wicker crafts to empower women, promote culture, and improve maternal and child health in rural Indonesia. It also provides quality and design improvement training for weavers and connects their existing skills and resources to both domestic and international markets. Du’Anyam claims that women working with have seen their income increase by up to 40 per cent.
The social enterprise partners with local health workers, non-profit organizations, and Corporate Social Responsibility programs to enhance impact on nutrition improvement and education programs for children of the weavers.
Through a release by Angel Investment Network Indonesia (ANGIN), Du’Anyam says it plans to use the funding to scale its business through product design and capacity improvement while expanding its social impact to women in other rural areas of Indonesia.
“Partnering with the Northstar Foundation will facilitate significant growth of our social enterprise business. We see vast opportunities to enter new markets and form collaborations to deliver further impact for our weavers,” said Azalea Ayuningtyas, CEO and Co-Founder of Du’Anyam.
The investment by Northstar Foundation comes two years after Du’Anyam’s previous funding by Mariko Asmara, a member of ANGIN’s angel investor network.
Founded by Azalea Ayuningtyas, Yohanna Keraf and Melia Winata in 2014, Du’Anyam now works with more than 450 weavers across 17 villages in East Flores, NTT and supplies over 24,000 wicker products per year to hotels and corporations in Indonesia.
Although most of its business is wholesale, Du’Anyam’s products are also available for purchase at various retail locations throughout Indonesia, including Alun Alun Grand Indonesia and Bika Plaza Indonesia. The enterprise has recently been selected to be the official handicraft merchandiser for Asian Games 2018.
The Northstar Foundation is the community impact vehicle of the Northstar Group, a $2-billion private equity firm based in Singapore focused on investments in Southeast Asia. The company also provides funding for the region’s startups through its venture capital arm NSI Ventures.